Agricultural activities in the
country will get an indirect boost with the decision of Aspada Investment
Company to invest Rs 20 crore ($3.3 Million) in Delhi-based EM3 AgriServices
Pvt Ltd. EM3 provides a full range of on-farm services using modern
agricultural machines and technologies, delivered by the company's own trained
personnel on a 'pay-for-use' basis, said a company release.
EM3 has long-term agreements
with Indian and global leaders of technology and agricultural firms, such as
John Deere, ITC Agri Business, Syngenta Foundation, SFAC, Farmer Producer
Companies, amongst others.
It is a fact that small
farmers are universally unable to afford machines and equipment that can increase
yields and productivity. EM3's goal is to eliminate the need for ownership by
providing access to technologies that enhance yields per acre and that have
heretofore been affordable to only the largest farmers and landowners.
Rohtash Mal, Chairman and
Managing Director of EM3 AgriServices, said, "It is ironic that the farmer
who feeds the nation is unable to feed himself. Most prominent among yield
inhibiting factors is the small farmer's inability to afford modern machines
and technology. Pay-for-use service models are, by far, the only solution to
the enduring challenge of raising farm productivity without burdening the
farmer with significant capital expenditure. So far, only adjacent
opportunities in agriculture such as cold chains and warehouses have drawn
serious interest from investors. EM3 is one of the few investments in 'core'
Indian agriculture aimed at positively enhancing a small hold farmer's P&L
"In Aspada, we found the
right DNA to work with on this path-breaking opportunity - a bright and
energetic team that has an exceptionally mature approach to building
sustainable, disruptive businesses that can become large and create real
economic and societal value," continued Mal.
Adwitiya Mal, Executive
Director of EM3 AgriServices, adds; "Services are delivered under our
brand 'Samadhan’ through EM3's farm service centres ('Samadhan Kendras’). Each
centre delivers a complete suite of basic and precision agri operations from
soil to the farm gate. We have been operating in Madhya Pradesh for over a
year, and with Aspada's investment will create a pan-India network of Kendras.
Over the next 18-24 months, we intend serve tens of thousands of farmers,
thereby enhancing yields of numerous crops across multiple geographies.
Simultaneously, we will continue investing in team building, bolstering our
technology platform, enhancing soil and chemistry research, and augmenting our
services and product portfolio - all with the intent of maximizing farm
productivity and driving down farm operating costs."
"We are partnering with
an exceptional team that brings significant experience in building large
businesses and that comes with a deep understanding of Indian agriculture. We
believe that EM3 can become India's first organised small-hold agricultural services
platform at scale and will materially improve farm processes and productivity
among small farmers in India," said Kartik Srivatsa, Managing Partner of
Aspada Investment Advisors.
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